Dear Sirs,Subj. Acrylic SweatersThank you for your letter of June 6, offering us the captioned goods at$20 per dozen CIF London.In reply, we very much regret to state that we find your price rather high
and out of line with the prevailing market level.Information indicates that some parcels of Japanese may have been sold at the level of $16. 5 per dozen. So if you should reduce your price by, say, 5%,we might come to terms.Considering our long-standing business relationship, we make you such a counter-offer. As the market is declining, we sincerely hope you will consider our counter-offer and cable us at your earliest convenience.Yours sincerely,John Smith